Net sales of Canadian investment funds totalled $15.9 billion in January, according to a report from the Investment Funds Institute of Canada (IFIC).

Mutual funds generated $11.9 billion in net sales, led by balanced funds ($5.2 billion), equities funds ($4.5 billion) and bond funds ($3.2 billion). Money market funds experienced an outflow of $1.5 billion.

ETFs generated $4 billion in net sales, led by equities funds ($2.2 billion), bond funds ($1.3 billion) and balanced funds ($495 million). There was an outflow of $25 million from money market funds.

At the end of the month, Canadian mutual fund assets totalled $1.78 trillion, down 0.5% from December 2020, and ETF assets totalled $259.8 billion, an increase of 1% from a month earlier.

IFIC’s ETF data are not adjusted to remove the double-counting of ETFs that invest in other ETFs.